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(Z2) Resumes Bear Cycle

JGB TECHS
  • RES 3: 152.26 - High Dec 7 / 21 2021
  • RES 2: 151.13 - High Mar 3
  • RES 1: 149.20/150.81 - High Aug 5 / High Aug 5
  • PRICE: 147.84 @ 15:36 BST Oct 24
  • SUP 1: 147.38 - Low Oct 21
  • SUP 2: 147.07 - Low Jun 20
  • SUP 3: 145.05 - Low Jun 16 and a key support

JGB futures extended losses into the Friday close, keeping the contract close to recent lows. This signals scope for more downside. The clearance of support at 147.62, the Sep 27 low confirms a resumption of the bear cycle and opens 147.07, the Jun 20 low on the continuation contract. Key resistance for now remains intact at 150.81, the Aug 5 high.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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